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Apr 7, 2010
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. >> tom: a twist tonight in the toyota recall saga. the associated press has learned that a u.s. toyota executive wrote an email to higher ups at the auto giant five days before a massive recall. it said, quote, "we need to come clean" about accelerator problems. the a.p. obtained the internal email written by irv miller, toyota group's vice president for environment and public affairs. the note went on to say, quote, "the time to hide on this one is over." miller has since retired. >> susie: in the "money file" tonight, why foreign bond funds can be a dicey choice for everyday investors. here's eric schurenberg, editor- in-chief at "cbs moneywatch". >> one of the pillars of a well-rounded investment portfolio is international stocks. you own some, don't you? owning foreign stock funds lets you ride economies that may be healthier than ours, and lets you earn some of your investment profits in a currency other than the dollar. so when the dollar falls, your foreign stock funds rise, because they pay off in a currency that's suddenly worth more to americans. so, owning global stoc
. >> tom: a twist tonight in the toyota recall saga. the associated press has learned that a u.s. toyota executive wrote an email to higher ups at the auto giant five days before a massive recall. it said, quote, "we need to come clean" about accelerator problems. the a.p. obtained the internal email written by irv miller, toyota group's vice president for environment and public affairs. the note went on to say, quote, "the time to hide on this one is over." miller has...
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Apr 15, 2010
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. >> tom: more trouble for toyota. now, the government is looking at the stability of its lexus gx-460. that's the s.u.v. model that "consumer reports" says is a potential rollover risk, leading toyota to stop selling it. the national highway traffic safety administration says it is already working on its tests. this is the latest problem in an ongoing saga for toyota. the japanese auto maker has until monday to respond to a proposed $16 million government fine for hiding defects that caused its vehicles to suddenly accelerate. >> susie: today's the day, the deadline for taxes. federal returns have to be postmarked by midnight. but kevin mccormally says don't stress out because the calendar says april 15. he's editorial director at kiplinger's personal finance, and he has a few more tax tips before the big deadline. tonight-- why you may not have to worry at all about today's deadline. >> with just a few hours to go before the tax deadline, i want to remind anyone struggling to finish a 1040, or that wonderful little f
. >> tom: more trouble for toyota. now, the government is looking at the stability of its lexus gx-460. that's the s.u.v. model that "consumer reports" says is a potential rollover risk, leading toyota to stop selling it. the national highway traffic safety administration says it is already working on its tests. this is the latest problem in an ongoing saga for toyota. the japanese auto maker has until monday to respond to a proposed $16 million government fine for hiding...
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Apr 13, 2010
04/10
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those problems at toyota have helped boost sales at rival ford. the automaker said today u.s. sales jumped 37% in the first three months of this year. that's ford's largest quarterly market share gain since 1977. ford's entire lineup saw higher sales, most notably in s.u.v.s and pickups, enough to make the company optimistic about consumer confidence. we'll find out more about ford's quarterly performance when it reports earnings at the end of the month. >> susie: it's crunch time, with just two days to go until your federal taxes are due back at the i.r.s. and kevin mccormally is here to help. he's editorial director at kiplinger's personal finance. in tonight's "tax tips", kevin takes on the 1099 mine field. >> the i.r.s. loves those little pieces of paper called information returns, you know, the forms the agency gets from all sorts of companies about your money. the w-2 from your boss and various 1099s. here is a key piece of information, money reported on 1099s isn't always taxable. the 1099 i.m.p. covers taxable interest and tax-free interes
those problems at toyota have helped boost sales at rival ford. the automaker said today u.s. sales jumped 37% in the first three months of this year. that's ford's largest quarterly market share gain since 1977. ford's entire lineup saw higher sales, most notably in s.u.v.s and pickups, enough to make the company optimistic about consumer confidence. we'll find out more about ford's quarterly performance when it reports earnings at the end of the month. >> susie: it's crunch time, with...
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Apr 5, 2010
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after those problems at toyota, g.m. is now promising brake override systems on all its vehicles within two years. the move is in anticipation of stricter u.s. regulatory standards. the override system cuts power to the engine when the brake and gas pedals are pressed at the same time. right now, only a handful of g.m. vehicles have this feature. >> tom: more news tonight about banker pay. it appears c.e.o.s at the nation's regional banks are benefiting from the economic recovery, and a twist on government bailouts. ohio's fifth third bank today reported c.e.o. kevin kabat's 2009 pay at $5.2 million. that's a 56% jump over last year, even though the bank still owes over $3 billion in government bailout money. fifth third's not alone. alabama's regions financial and cleveland-based keycorp also boosted executive pay; both are still on the hook for billions in tarp money. regions c.e.o. salary rose 43% to just under $10 million. keycorp's chief earned $8 million last year, up 21% over 2008 levels. >> susie: simon johnson h
after those problems at toyota, g.m. is now promising brake override systems on all its vehicles within two years. the move is in anticipation of stricter u.s. regulatory standards. the override system cuts power to the engine when the brake and gas pedals are pressed at the same time. right now, only a handful of g.m. vehicles have this feature. >> tom: more news tonight about banker pay. it appears c.e.o.s at the nation's regional banks are benefiting from the economic recovery, and a...
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Apr 16, 2010
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toyota is looking at potential fixes for the problem. meanwhile, the automaker could be heading back to capitol hill for another round of hearings. the house energy and commerce committee has set may 6 to review the automaker's electric throttles. those throttles are at the heart of questions about sudden acceleration in toyota and lexis vehicles. >> the civil fraud charges against goldman sachs come as big bank of nov banks have sn big. rochdale securities. joining us from the gulf coast. dick, nice to see you. welcome back to "nightly business report". >> thank you. >> tom: how does this goldman sachs case color your view of the company, as well as the stock. >> it should be stated clearly if in fact goldman sachs did something improperly, they should be fined for it, and they should be punished. if we make the assumptions for analytical purposes they did do something wrong, my guess is return of payments to the costumers and the fine would be about $2 billion. i think that goldman sachs actually can afford that because it has $65 bill
toyota is looking at potential fixes for the problem. meanwhile, the automaker could be heading back to capitol hill for another round of hearings. the house energy and commerce committee has set may 6 to review the automaker's electric throttles. those throttles are at the heart of questions about sudden acceleration in toyota and lexis vehicles. >> the civil fraud charges against goldman sachs come as big bank of nov banks have sn big. rochdale securities. joining us from the gulf...
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Apr 19, 2010
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another recall for toyota, this time it's 2010 lexus gx460 s.u.v. the problem is a potential roll- over risk. sales were suspended last week after consumer reports issued a rare don't buy rating. separately, toyota will pay a record $16 million fine for not reporting a safety problem with defective gas pedals. the company says it settled with government to avoid litigation. and still ahead on the program, face value. you might be surprised how many people base the trustworthiness of their financial advisor solely on looks. >> susie: airlines were cleared to resume some flights out of europe today as ash from the icelandic volcano began to clear. bu already, airline losses have soared to past the billion dollar mark. that's more than the impact of 9/11. erika miller takes a look at the impact here in the u.s. on the travel industry. >> reporter: new york city is more than 2,500 miles away from the icelandic volcano eruptions. but even here there are business disruptions. new york city estimates it could lose as much as $250 million in tourism revenue
another recall for toyota, this time it's 2010 lexus gx460 s.u.v. the problem is a potential roll- over risk. sales were suspended last week after consumer reports issued a rare don't buy rating. separately, toyota will pay a record $16 million fine for not reporting a safety problem with defective gas pedals. the company says it settled with government to avoid litigation. and still ahead on the program, face value. you might be surprised how many people base the trustworthiness of their...
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Apr 28, 2010
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toyota says there have been no reported injuries or accidents due to the issue. dealers have been notified and about half of the recalled vehicles have already been repaired. >> tom: a first of its kind energy project got the green light today from uncle sam. a 130 turbine wind farm in the waters off cape cod, massachusetts is scheduled to start construction later this year. the $1 billion facility is expected to produce enough electricity to power 400,000 homes. german conglomerate siemens will supply the turbines. opponents say the project will endanger marine life and commerce in the area, they plan a lawsuit to stop it. >> susie: for the past few years, the home furnishings sector has gotten hammered, especially high end chains like ethan allen. but the company is showing some improvement. it reported a narrower fiscal third quarter loss today and said orders were up 20% over the year ago period. the stock was hit hard, falling almost 10% as some on wall street hoped the firm would break even. in tonight's "shoptalk," erika miller heads to ethan allen's conne
toyota says there have been no reported injuries or accidents due to the issue. dealers have been notified and about half of the recalled vehicles have already been repaired. >> tom: a first of its kind energy project got the green light today from uncle sam. a 130 turbine wind farm in the waters off cape cod, massachusetts is scheduled to start construction later this year. the $1 billion facility is expected to produce enough electricity to power 400,000 homes. german conglomerate...
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Apr 27, 2010
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. >> reporter: on the same line, do you think you benefitted from problems we saw this quarter at toyota? >> well, we have been getting new customers from the japanese -- our japanese competitors as well as domestic competitors but again, i would go back to the strength of the product line because as you know when it comes to customer satisfaction and quality and all the third-party endorsements, j.d. power and consumer reports, many believe we have the finest car lineup of small, medium and large cars, utility trucks ever. it's the strength of the products. >> reporter: you're talking about production in the second quarter being up about 40%. are you looking to bring people back to your plants, start hiring again? >> absolutely. one of the neatest things we're all very excited about is that clearly now with the industry coming back and us coming back even faster because of the increasing market share that we're going to have a chance to increase production as we mentioned in the second quarter that we're going to do and now we're going to have a chance to offer great cars and careers at
. >> reporter: on the same line, do you think you benefitted from problems we saw this quarter at toyota? >> well, we have been getting new customers from the japanese -- our japanese competitors as well as domestic competitors but again, i would go back to the strength of the product line because as you know when it comes to customer satisfaction and quality and all the third-party endorsements, j.d. power and consumer reports, many believe we have the finest car lineup of small,...